Monthly Archives: October 2011

PDVSA in Argentina: Good money after bad?

Ever read one of those news stories that leaves you thinking that there must be more to this than I’ll ever know? This, about Venezuelan state oil company PDVSA and its dealings in the Argentine fuel market in a joint venture with Uruguay’s state oil company, is one of them:

UPDATE 1-PDVSA takes control of Argentine fuel company Continue reading

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Guyana, Suriname, French Guyana get offshore oil excitement

In high school, my US History teacher said any time you don’t know the answer to a history question, just write “money.” You’ll probably be correct.

With that in mind, check out this odd little story from the Latin American Herald Tribune:

Venezuela Says Guyana Expansion of Legal Sea Limits “Irregular”

…Guyana was expanding its continental shelf 150 nautical miles under the new rules of the Law of the Sea from the former standard of a 200 nautical mile outer limit of existing exclusive economic zones.

Guyana’s request to extend its continental shelf by 150 miles was not the only one submitted to the UN Commission that can affect Venezuela’s maritime domain in the eastern part of the country. Trinidad & Tobago and Barbados have also made submissions…

Because the story was written in Venezuela, it quite bizarrely focuses entirely on a supposed threat to Venezuelan sovereignty. But the real issue here is money — in particular, oil money. Continue reading